OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← St John's Winchester

2024-03-31-accounts

St John’s Winchester

Annual Report and Financial Statements For the year ended

31 March 2024

Charity number: 1174290 Registered Company number: 10903970

St John’s Winchester

Annual Report and Financial Statements For the year ended 31 March 2024

CONTENTS PAGE
Trustees’ Report 1
Report of the Independent Auditor 11
Statement of Financial Activities 14
Balance Sheet 16
Cash Flow Statement 17
Notes to the Financial Statements 18

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

St John’s Winchester Trustees’ Report (incorporating the Strategic Report) for the year ended 31 March 2024

The trustees present their report and the audited financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102).

Reference and Administrative Details

St John’s Winchester is a Charity registered with the Charity Commission under Charity registration number 1174290.

It is a company limited by guarantee with registered company number 10903970, incorporated on 8 August 2017.

In this Report, the Charity or the Company means St John’s Winchester. St John’s Winchester is the sole corporate trustee of St John’s Winchester Charity, a linked charity which still holds the beneficial ownership of the Charity’s permanent endowment.

The Charity’s activities are governed by a scheme of the Charity Commissioners dated 14[th] April 1991, as amended, and by articles of association adopted on 8 August 2017.

The Charity’s registered office and principal place of business are located at:

32 St John’s South High Street The Broadway Winchester SO23 9LN

The Charity’s main advisors are as follows: -

Bankers: National Westminster Bank plc,105 High Street, Winchester, SO23 9AW Auditors: CLA Evelyn Partners Limited ,4[th] Floor Cumberland House, 15-17 Cumberland Place, Southampton, SO15 2BG Solicitors: Stone King, Upper Borough Court, Upper Borough Walls, Bath, BA1 1RG Blake Morgan, New Kings Court, Chandlers Ford, Eastleigh, SO53 3LG Property Advisors: Carter Jonas, 9a Jewry Street, Winchester, SO23 8RZ

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

Our Trustees

The Directors and Trustees of the Charity who have served during the financial year and up to the date of this report (including those who have resigned during the year) are listed below in alphabetical order:

John Beresford (Appointed 12 December 2023) Roger Bright (Chair) Linda Bonnin Richard Brand Richard Corden Chris Day Jacqui Evans (Appointed 25 June 2024) Peter Gubb (Resigned 26 February 2024) Patricia Harrington (Appointed 25 June 2024) Kelsie Learney Ellen McNicholas Zoe Seenan (Appointed 25 June 2024) Suzie Simmons Mervyn Suffield (Resigned 26 September 2023) Martin Willey (Resigned 24 September 2024)

At 31 March 2024 there were 10 Trustees in office.

To enhance the management of the Charity’s affairs, the Trustees have established four committees each chaired by a Trustee. These Committee Chairs provide regular updates to the Trust Board, which convenes approximately every quarter.

Name of Committee Members Audit, Risk and Finance Chris Day (Chair), Roger Bright, Peter Gubb Care Provision Roger Bright (Chair), Richard Brand, Ellen McNicholas, Mervyn Suffield Staff and Governance Richard Corden (Chair), Roger Bright, Chris Day Property Management and Development Peter Gubb (Chair), Linda Bonnin, Roger Bright, John Beresford, Martin Willey

Executive Officers

The Chief Executive Officer leads the day-to-day management of the Charity reporting to the Chair and Board of Trustees. The Board of Trustees are responsible for the overall strategic direction of the Charity, ensuring that the senior executive team implements the agreed strategy and that the Charity’s operations are conducted in the most effective way whilst complying with all laws and regulations in a manner consistent with best practice.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

The senior executive officers of the Charity during the financial year are as follows:

Position Name Chief Executive Clive Cook (to April 2024) Tim Bissett (from May 2024) Director of Community Services Sarah Weekes Finance Director Eleanor Redmond (to March 2024) Hannah Garriock (from April 2024) Investment Property Manager Siân Duxbury Facilities Manager Andy Ross

About St John's Winchester

The Charity has been intimately connected with the city of Winchester for over 900 years, the original St John’s Hospital being the focal point for civic and community life in medieval Winchester. The Charity received significant bequests from the Devenish family in the 13th Century and a prominent London-based Elizabethan merchant, Ralph Lamb.

St John’s Winchester is an amalgamation of several charities including Mary Magdalen which operated a hospital outside Winchester and Christes’ Hospital founded by Peter Symonds, another London merchant who founded a local school, now Peter Symonds College.

The Charity has been involved in supporting the community for many centuries. At one time a school was run from St John’s House and financial support given to fund local apprenticeships and start-up funds for local businesses. The grandfather of our previous chair, Richard Steel, benefited from this type of provision.

The modern charity dates to the 1830s when its assets were taken out of city administration and transferred to an independent trust. The Charity has supported people of all ages who were lacking means, but in the 20th Century and beyond, care and support have been focused on older people.

Charitable Objects and Public Benefit

St John’s Winchester is dedicated to enhancing the lives of older people in the community, particularly those facing the challenges of dementia. With a deep commitment to fostering well-being and independence, St John’s provides a range of services, including high-quality housing, care, and a support service for individuals living with dementia.

The Charity also plays a vital role in combating social isolation by offering opportunities for volunteering and befriending, enabling community members to connect with and support older people. Through these initiatives, St John’s Winchester creates a compassionate and inclusive environment where older adults can thrive, feel valued, and maintain a sense of belonging.

The Articles of Association for St. John’s Winchester provide the legal foundation for the Charity’s operations, clearly defining its mission and governance. These articles articulate the Charity’s primary objectives, which centre on poverty relief, the provision of Almshouses, and elder care within Winchester.

They establish a comprehensive governance structure, specifying the roles, responsibilities, and decisionmaking processes for directors and members. Additionally, the Articles set out operational guidelines, including procedures for meetings, financial management, and conflict of interest policies, ensuring transparency and accountability. They also delineate the rights and obligations of both members and directors, outline procedures for the Charity’s dissolution, and ensure full compliance with legal and regulatory standards. This framework is designed to enable St. John’s Winchester to fulfil its mission effectively, maintaining the highest standards of governance and operational integrity.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

The objects of St. John's Winchester, as outlined in the Articles of Association, are for public benefit and are as follows:

a) Relief of Poverty through Almshouses

Provision or support for the provision of social housing in the form of Almshouse accommodation for those in need.

Directors must apply a preference order when selecting residents for Almshouses:

b) Relief of Poverty for Persons in Need

Alleviating poverty, hardship, and distress for individuals living in the City of Winchester and its surrounding area.

c) Relief and Care of Older People

Provision of specially designed or adapted housing or accommodation and associated services and facilities for older people in need, with a preference for residents of the Charity. If adequate provision has been made for those receiving help under the first object, the Trustees may extend relief to older people in the City of Winchester and surrounding areas by providing items, services, or facilities calculated to relieve their needs.

These objects are intended to address and alleviate poverty and need within the specified geographic areas, with a particular emphasis on providing housing and support for older individuals. The Charity's efforts are focused on ensuring that those in need, especially within the City of Winchester, receive appropriate housing and associated services to improve their quality of life.

Public benefit

In accordance with the requirement in Section 710 of the Charities Act 2011, the Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grantmaking policy for the year.

The Charity seeks to work inclusively with all people and in line with a particular focus on elderly people in Winchester, as set out in the Charity’s mission and objectives.

The Trustees have reviewed the guidance on public benefit issued by the Charity Commission and consider that the Charity's aims and activities, set out above, fulfil the criteria. The Trustees do not anticipate any change in the future to this operational approach. The Trustees consider guidance on public benefit each year.

Structure, Governance and Management

The Charity operates as a company limited by guarantee and is governed by a Charitable Scheme established by the Charity Commission in 1991, with subsequent amendments. The Charity's Articles of Association reflect this Scheme.

The Charity's strategy is set by the Board of Trustees, which meets quarterly. There are four sub-committees of the Trustees: Audit, Risk and Finance, Care Provision, Staff and Governance, and Property Management and Development. Trustees receive regular reports from senior executive officers and from the CQCregistered manager.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

Trustee Appointment

The process for appointing Trustees varies on whether the Trustee is a Nominated or Appointed Trustee. Currently there are two appointed Trustees, one appointed by Winchester City Council, this person is usually a City Councillor. The other appointed Trustee is selected by the Bishop of Winchester who consults with the Charity before making their nomination. All other Trustees are co-opted through a resolution by the Board.

The Charity has embraced the Charity Governance Code for larger charities and will evaluate its compliance with the Code, with particular attention to Equality, Diversity, and Inclusion, during the 2024/25 financial year.

New Trustees undergo a thorough induction process, which includes a detailed induction pack, site visits to Almshouses and key properties, and meetings with personnel managing core services.

Trustee Meetings

The Board meets quarterly, receiving comprehensive reports including management accounts, a CEO report, and Key Performance Indicators. Trustees are also encouraged to participate in training programmes organised by The Almshouse Association, covering areas such as safeguarding, GDPR, and Equality and Diversity, provided by reputable external trainers.

While day-to-day operational decisions, such as managing core services, hiring staff, and overseeing property are delegated to the Charity’s Senior Management, the Chief Executive regularly consults with the Chair and other Trustees for advice and support on key decisions.

Major investment decisions are made by the Trustee Board, based on recommendations from Senior Management and external advisors. The Trustee Board plays a critical role in scrutinising management actions and setting the strategic direction of the Charity.

Residents’ Forum

The Residents' Forum meets quarterly, providing Almshouse residents an opportunity to express their views and concerns on day-to-day and broader issues. The Forum, which is chaired by a resident, also allows Senior Management to consult with residents on major initiatives. At least one Trustee typically attends these meetings. A full residents' meeting occurs twice a year to which all residents are invited.

Strategy and future strategic plan

A full strategic review was completed in December 2021 with a revised 5 -year plan for St John’s called ‘Building on a Strong Foundation’ being put in place, this was reviewed in November 2022. The Charity’s core goals remain the same:

A key focus for trustees over the next two years will be a full review and strategy for St John’s to take the organisation into the next five years of growth and development.

Achievements and Performance

The Charity’s primary short-term objective during the year was to provide the highest standard of housing, accommodation, care and support for older people in Winchester and to support people with dementia (and their families /carers) to live well in the community. The following gives a summary of how this was achieved in the different areas of the Charity;

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

Almshouses

Our welfare team support approximately 100 Almshouse residents with a mix of registered care and welfare support 24 hours a day and seven days a week, helping to keep community members living independently and well for as long as possible. In addition to welfare support, the Charity employs a wellbeing therapist who provides therapeutic services to residents including massage and exercise.

All residents are supported by our Welfare Team, which continues to develop and grow, working alongside the Admiral Nurses in our Dementia Support team. The CQC registered care service which maintains an overall “Good” rating was not inspected during the year but continues to meet regulatory requirements. In a survey of those receiving registered care within the Almshouses, 90% rated the care as outstanding, with the remaining 10% as very good.

The reintroduction of community lunches has involved residents in planning and preparing regular meals which helps contribute to the Almshouses’ social fabric and in developing a social and welcoming community. Regular events are held in the Community Lounge and this year, residents have supported both each other and staff members with their own fundraising initiatives for both St Johns and other charities close to their hearts, including raising funds for Ukrainian families who have found refuge in Winchester.

The residents and the Welfare Team have worked again this year with local charities including Play to the Crowd which engaged residents in artistic workshops with local schools and creative artists from the Hat Fair, culminating in a celebratory event in the Abbey Gardens.

Almshouse Development

Our new development at Colebrook Street boasts 12 purpose-built Almshouses and three further newly designed Almshouses within the fabric of an existing listed building. The renovation was completed and celebrated with an official opening event at the end of March 2024. These new Almshouses include accessibility features that will allow residents with disabilities to live independently yet supported by our welfare team as required.

During the year the work to convert several Mary Magdalen Almshouses into more accessible accommodation continued and completion of three of these took place shortly after year-end. This additional and converted accommodation is now almost fully occupied.

Moorside

Following the closure of the Moorside Dementia Home in September 2021, work has continued during the year on a design to convert the site into Almshouse accommodation. Planning permission has been granted and the Charity is currently considering options for developing an appropriate and cost-effective scheme. Work is expected to commence once a viable and fully informed plan is finalised. In the interim period the accommodation has been made available to local carers at an affordable rent through a property guardianship provider.

St John’s Hand in Hand Service

The Hand in Hand service continues to support older people in the wider community to live independently and alleviate loneliness and social isolation. In November 2023, the service celebrated its fourth anniversary, having supported over 320 scheme members with the help of 50 volunteers. The service has expanded to include self-referrals, allowing more people to access the support they need.

Community involvement remains strong, with volunteers supporting events and collaborating with local businesses. The Hand in Hand service received around 152 referrals during the past year, providing between 170 and 200 hours of volunteer support per month. A Volunteer Strategy has been implemented to increase volunteer recruitment and enhance service delivery.

Accreditation for Investing in Volunteers (IiV) has been successfully achieved, marking a significant milestone in recognising the charity's commitment to its volunteers. The focus for the coming year will be on further implementing the Volunteer Strategy objectives, expanding volunteer opportunities within the charity, and continuing collaboration with the University of Winchester.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

Other Projects and Activities

Dementia Support Service

The Dementia Support Service, launched in September 2022, continues to work in partnership with Dementia UK to provide Admiral Nurse support to carers and those living with dementia. By the end of March 2024, the service had received over 200 referrals, with the highest percentage coming from the Older Persons Mental Health Team.

The service has successfully established a Memory Wellbeing Centre, offering vital support to carers and those living with dementia. Looking ahead, the service plans to expand its referral pathways and open an additional carers support centre in the coming year, further enhancing its reach and impact.

Homeshare

St John’s Homeshare service, a pilot scheme, was launched in October 2022, and looked to match older householders with younger sharers who would provide companionship and volunteer hours in exchange for rent-free living. The charity and in particular the Homeshare manager invested energy and effort into launching this service, however in early 2024 no proceedable matches had been made and the difficult decision was taken not to extend the pilot scheme. Many contacts with local people were made through this pilot scheme, and many continue to be connected with the charity through the Dementia Services and volunteer communities.

The Fabric of Winchester

The Fabric of Winchester, led by St John’s Winchester, captured the stories of the city through the creation of several ‘memory quilts.’ Individuals, families, community groups, churches, schools, and local businesses were invited to contribute by ‘donating’ a memory—whether through gifting a piece of fabric or clothing with special meaning, stitching a square to depict a poignant time, or purchasing a bespoke block featuring a business logo or company name.

With contributions from across the community, the project stitched together the memories that made Winchester extraordinary, with the finished memory quilts displayed for the public to enjoy. The quilts were then donated to Winchester Hospice as a gift from the community and St John’s, in support of the charity’s impactful work providing palliative and end-of-life care.

The project aimed to raise awareness of the work of St John's Winchester and develop links with supporters across the City.

Financial Review

The Charity incurred a net deficit (before unrealised gains on investments) of £373k for the year ended 31 March 2024, compared to a net deficit of £94k in the previous year. Total income increased by 10% from £2,277k to £2,495k, with an improved rental market driving much of the increase. This was in line with expectation that rental income would pick up following the challenging conditions experienced during the covid pandemic and associated lockdowns. The Charity's investment in commercial property remains a major income source, with rental income increasing by 6.3% from £1,586K in 2022/23 to £1,687k in 2023/24. The charity was also successful in applying for grants totalling £48k during the year compared with £0k in the prior year.

The increased deficit was primarily due to increased expenditure on the charitable housing provision welfare and building maintenance services as well as higher support costs across the Charity. Expenditure relating to the management of the investment properties also increased during the year due to the costs involved in re-leasing significant investment properties.

The portfolio of charitable fixed assets, has a total net book value of £12.3 million at the year-end. This includes Moorside which is valued at £2.3 million net book value and is being held as part of the charitable property portfolio whilst development and planning works continue, before the building’s planned redevelopment into Almshouses. The Trustees will continue to monitor the valuation of the building in line with planned activities for the building.

The investment portfolio, consisting of unitized funds and cash deposits, performed in line with expectations. Transfers of £1,179k were made from the capital recoupment fund to finance the final instalments for the Colebrook Street development.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

The Charity's total net assets increased by 1% from £49,344k to £49,861k, largely due to the unrealised revaluation gain of listed investments less the deficit incurred during the year.

Reserves

The reserves policy, aims to retain unrestricted free reserves equivalent to 12 months of ordinary running costs. At the year end, the accumulated income reserve was equivalent to approximately 9 months of budgeted ordinary running costs.

Existing designated reserves include:

Major repairs and rebuilding reserve - investment property : Funds for extraordinary property repairs and improvements on investment properties.

Extraordinary repairs reserve - charitable property : Funds for extraordinary repairs on Almshouses and charitable property.

Minibus replacement reserve : Funds towards a replacement minibus when required.

At the year end, the Charity held £19.0 million in unrestricted reserves (2022/23 £17.8 million), of which £12.2 million is the net book value of the charitable fixed assets (2022/23 £10.8 million), £5.2 million is designated for the significant ongoing repair and maintenance costs of the charitable and investment property portfolios (2022/23 £5.3 million), and £1.5 million is the accumulated income reserve (2022/23 £1.7 million). The Charity did not hold any restricted funds at year-end (£7k 2022/23). The total value of the permanent endowment made to St John’s Winchester Charity is £30.8 million (2022/23 £31.4 million).

Fundraising Practices

The charity’s fundraising is registered with the Fundraising Regulator and is compliant with the recognised standards of fundraising set out in the Code of Fundraising Practice. The charity participates in the Fundraising Regulator’s voluntary regulatory regime. No complaints about the charity’s fundraising activities were received during the financial year.

All requests for donations are compliant with GDPR Regulations and those responsible for fundraising are

carefully monitored.

We manage all our mailings and correspondence with supporters in line with their communication preferences. All correspondence provides the recipient with information about how they can be removed from our mailing lists. We do not buy in data or share our data with others, do not undertake telephone fundraising, and ensure that our fundraising requests are sensitive and without pressure.

The safety and appropriate use of supporters' data is important, and the charity will never share or sell personal details to another organisation for their own use. The charity has not received any formal fundraising complaints in the past financial year and there have been no fundraising compliance issues.

Investment Powers, Policy, and Performance

The charity’s investments are in cash and marketable equities, following a medium-risk investment policy. The Trustees consider the performance of the investment portfolio to be in line with policies and global stock market conditions. In 2024/2025, the Trustees will review the investment portfolio, focusing on the risk profile, diversification of risk and asset class balance.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

Principal Risks and Uncertainties

The charity uses a comprehensive risk management framework, including a detailed Risk Register, to assess and manage major risks. The Risk Register is reviewed quarterly by the senior management team and the Trustees.

Key risks identified for the current and future periods include:

Going Concern

After reviewing forecasts and projections, the current level of reserves, and future plans, the Board has concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and as such the accounts are prepared on a going concern basis.

Future Plans

The Charity remains committed to driving its three key strategic goals:

Looking forward, the Charity aims to finalise plans for the Moorside site. Additionally, the Charity will continue to expand the Hand in Hand service, as well as expand the impact of the Dementia Support Service. Achieving these goals will rely on securing significant donations and grants through ongoing fundraising efforts, which have been recently intensified to meet the growing needs of the community.

St John’s Winchester Trustees’ Annual Report and Audited Financial Statements for the year ended 31 March 2024

Statement of Trustees’ Responsibilities

The trustees (who are also directors of St John’s Winchester for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company, and the income and expenditure of the Charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to the auditor

In so far as the trustees/directors as at the date this report was approved are aware:

ON BEHALF OF THE TRUSTEES

Roger Bright Roger Bright (Nov 21, 2024 14:40 GMT)

Roger Bright – Chair Dated: 21/11/2024

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST JOHN’S WINCHESTER

Opinion

We have audited the financial statements of St John’s Winchester (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report and Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors’ Report contained within the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 10, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtained a general understanding of the charitable company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the charitable company’s industry and regulation.

We understand that the charitable company complies with the framework through:

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the charitable company’s ability to conduct its business, and/or where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the charitable company:

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:

These areas were communicated to the other members of the engagement team not present at the discussion.

The procedures we carried out to gain evidence in the above areas included:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

CLA Evelyn Partners Limited

CLA Evelyn Partners Limited (Nov 21, 2024 15:09 GMT)

Julie Mutton

Senior Statutory Auditor, for and on behalf of

CLA Evelyn Partners Limited

Statutory Auditor Chartered Accountants 4th Floor Cumberland House 15-17 Cumberland Place Southampton SO15 2BG

Date: 21/11/2024

ST JOHN’S WINCHESTER

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Notes
Unrestric
ted funds
2024
£’000
Income and endowments from:
Donations and legacies
4
15
Income from charitable activities -
housing and care provision
Contributions from charges due
2
711
Grant Income
2
-
711
Investment income
3
1,721
Other income
Profit on disposal of fixed assets
-
______
Total income and endowments
2,447
Expenditure
Expenditure on raising funds
Cost of managing investments
5
806
______
Expenditure on charitable activities
Housing and care provision
6
2,007
_
Total expenditure
2,813
__
Net expenditure before
gains/(losses) on investments
8
(366)
Net unrealised gains/
(losses) on investments
10
342
______
Net (expenditure)/income
(24)
_
Net movement in funds
(24)
Reconciliation of funds
Funds brought forward 01 April
18
17,849
Net movement in funds
(24)
Transfers
18
1,179
Funds carried forward at 31 March
______
at 31 March
18
19,004
----------		 Unrestric
ted funds
2024
£’000
15
711
-		 Unrestric
ted funds
2024
£’000
15
711
-		 Restrict
ed
funds
2024
Endowment
funds
2024
£’000
£’000
-
-
-
48
-		 Restrict
ed
funds
2024
Endowment
funds
2024
£’000
£’000
-
-
-
48
-		 Restrict
ed
funds
2024
Endowment
funds
2024
£’000
£’000
-
-
-
48
-		 Restrict
ed
funds
2024
Endowment
funds
2024
£’000
£’000
-
-
-
48
-		 Total
Funds
2024
£’000
15
711
48		 Total
Funds
2024
£’000
15
711
48		 Total
Funds
2023
£’000
19
560
-
711
1,721
-
_____
2,447
806
_____
2,007
_____
2,813
_____
(366)
342
______
(24)
______
(24)
17,849
(24)
1,179
______
19,004
---------		 _
___
___
__
 48
-
-
_____
48
-
_____
55
_____
55
_____
(7)
-
______
(7)
_
(7)
7
(7)
______
-
---------		 _
__
__
__

 -
-
-
_____
-
-
_____
-
_____
-
_____
-
548
______
548
_
548
31,488
548
(1,179)
______
30,857
----------		 _
_
_
_
 759
1,721
-
_____
2,495
806
_____
2,062
_____
2,868
_____
(373)
890
______
517
______
517
49,344
517
-
______
49,861
---------		 560
1,626
72
_
2,277
753

1,618

2,371
_
(94)
(1,083)
_____
(1,177)

(1,177)
50,521
(1,177)
-

49,344
---------

All of the above results are derived from continuing activities, other than the expenditure on the discontinued Homeshare service. The total expenditure in year ended 31 March 2024 in relation to Homeshare was £58k (prior year £33k). All gains and losses recognised in the year are included above. Accounting policies and other notes on pages 18-28 form part of these financial statements.

ST JOHN’S WINCHESTER BALANCE SHEET AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible fixed assets
9
Investments
10
Total fixed assets
Current assets
Cash at bank and in hand
Debtors
11
Creditors amounts falling due
in one year
12
Net current (liabilities)/assets
Total assets less current
liabilities
Creditors: amounts falling due
after more than one
year
13
Total net assets
Funds
Permanent endowment and
associated reserves
Permanent endowment
fund
18
Capital recoupment
reserve
18
Investment revaluation
reserve
18
Restricted funds
Donated funds
18
Unrestricted funds
Charitable property
reserve
18
Other designated
reserves
18
Accumulated income
reserve
18
Total Charity funds		 Unrestricted
Funds
2024
£’000
11,459
7,899
___
19,358
240
267
__
507
(812)
__
(305)
_
19,053
(49)
_
19,004
=======
-
-
-
_
-
-
_
12,237
5,256
1,511
_
19,004
_
19,004
=======		 Unrestricted
Funds
2024
£’000
11,459
7,899
___
19,358
240
267
__
507
(812)
__
(305)
_
19,053
(49)
_
19,004
=======
-
-
-
_
-
-
_
12,237
5,256
1,511
_
19,004
_
19,004
=======		 Restricted
Funds
2024
£’000
-
-
__
-
-
-
__
-
-
__
-
_
-
-
_
-
=======
-
-
-
_
-
-
_
-
-
-
_
-
_
-
=======		 Restricted
Funds
2024
£’000
-
-
__
-
-
-
__
-
-
__
-
_
-
-
_
-
=======
-
-
-
_
-
-
_
-
-
-
_
-
_
-
=======		 Restricted
Funds
2024
£’000
-
-
__
-
-
-
__
-
-
__
-
_
-
-
_
-
=======
-
-
-
_
-
-
_
-
-
-
_
-
_
-
=======		 Endowment
Funds
2024
£’000
872
29,985
__
30,857
-
-
_
-
-
_
_
-
_
_
30,857
-
_
_
30,857
=======
=
28,665
1,909
283
_
_
30,857
-
_
__
-
-
-
_
_
-
_
_
30,857
=======
=		 Endowment
Funds
2024
£’000
872
29,985
__
30,857
-
-
_
-
-
_
_
-
_
_
30,857
-
_
_
30,857
=======
=
28,665
1,909
283
_
_
30,857
-
_
__
-
-
-
_
_
-
_
_
30,857
=======
=		 Total
Funds
2024
£’000
12,331
37,884
______
50,215
240
267
______
507
(812)
______

(305)
______

49,910
(49)
______

49,861
======
=
28,665
1,909
283
______

30,857
-
_____

12,237
5,256
1,511
______

19,004
______
49,861
======
 Total
Funds
2023
£’000
10,914
38,179
______		 Total
___ __ __
__
__
_
_
=
__
___


=		 __
__
_
_
=

__

_
=		 _
_
_
_
==




==		 _
_
_
_
=

__

_
=		 49,093
641
706
__
1,347
(1,046)
_
301

49,394
(50)

49,344
======
28,230
2,975
283

31,488
7
__
10,845
5,278
1,726
__
17,849
____
49,344
======

The accounting policies and other notes on pages 18-28 form part of these financial statements The financial statements were approved by the Trustees on………………. 21/11/2024 Roger Bright Roger Bright (Nov 21, 2024 14:40 GMT) ………………………….. ~~…………………~~ CM Day (Nov 21, 2024 14:55 GMT)CM Day …….. Roger Bright- Chair Christopher Day- Trustee

ST JOHN’S WINCHESTER CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash used in operating activities
1
Cash flows from investing activities
Investment income
1,721
Purchase of tangible fixed assets
(1,503)
Purchase of investments
(116)
Receipts from the sale of investments
1,301
Receipts from the sale of fixed assets
-
Cash from/ (used in) investing activities
Cash flows used in financing activities-repayment of debt
(Decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year		 2024
£’000
(1,803)
1,630
(3,359)
(116)
1,279
199
1,403
(1)
(401)
641
240		 2023
£’000
(1,785)
(367)
(3)
(2,155)
2,796
641
1.
Reconciliation of net movement in funds to the net cash flow from operating activities		 1.
Reconciliation of net movement in funds to the net cash flow from operating activities
Net expenditure before gains/(losses) on investments (373) (94)
Investment income included in investing activities (1,721) (1,630)
Depreciation charge 86 86
Profit on disposal on the sale of fixed asset - (72)
Decrease/(increase) in debtors 439 (320)
(Decrease)/increase in short- term creditors (234) 245
Net cash used in operating activities (1,803) (1,785)
2.
Analysis in changes in net debt
At 1 April Cash flows At 31 March
2023 2024
Cash and cash equivalents
Cash 641 (401) 240
Borrowings
Due in more than 1 year (50) 1 (49)
Total 591 (400) 191

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. PRINCIPAL ACCOUNTING POLICIES

St John’s Winchester ("the Charity") is a private company limited by guarantee and is incorporated in England and Wales; the registered office address is 32 St John’s South, Winchester SO23 9LN and the registered number is 10903970. The company is also a registered Charity and the registered number is 1174290.

The accounts have been prepared in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102(effective 1 January 2019) (the SORP) and the Companies Act 2006.

(a) Basis of accounting

The accounts include the results of both St John’s Winchester and the Permanent Endowment Fund of St John’s Winchester Charity, which are combined for reporting purposes under the linking direction issued by the Charity Commission on 9 May 2019.

The Charity meets the definition of a public benefit entity under FRS102. Under this definition financial statements are prepared on the historical cost basis of accounting with the exception of the valuation of the freehold investment property and investments.

The accounts are prepared on a going concern basis. The Trustees have carefully reviewed the future prospects of the Charity and its future cash flows and have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from the signing of these accounts.

(b) Income

Charitable income represents maintenance contributions receivable in the case of the Almshouses. Income is recognised in the period to which it relates. All income is included in The Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and it is probable that the income will be received.

For grants and donations where the donor imposes conditions which must be fulfilled before the Charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of the legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

(c) Fixed Assets

(i) Charitable Property

Properties acquired are included in the balance sheet at cost less depreciation. Historic assets i.e. properties constructed prior to 1900 are not included in the balance sheet as their costs, which have been fully written off, are not possible to ascertain. These freehold properties have not been included at a valuation due to the impracticality of such valuation. The Charity's policy is to maintain the properties to a good standard through a continuing programme of refurbishment and maintenance. Depreciation is charged on capitalised major repairs a straight-line basis over 50 years.

(ii) Equipment

Equipment and fittings are included in the balance sheet at cost and depreciated at 20% per annum on a reducing balance basis.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

PRINCIPAL ACCOUNTING POLICIES (Continued)

(d) Investments

Listed investments are included in the balance sheet at market value. Investment income is recognised when receivable.

(ii) Investment properties

Investment properties are included in the balance sheet at the Trustees' valuation based upon professional advice. The surpluses or deficits on revaluation of individual properties are transferred to the appropriate fund to which the property relates. Depreciation is not provided in respect of freehold investment properties. Income from investment properties is recognised in the period to which it relates.

The pension costs charged to the Statement of Financial Activities represent the amount of contributions payable to the schemes in respect of the accounting period.

(f) Charitable property reserve

This capital reserve represents that proportion of the cost of properties, net of depreciation which was financed from the Charity's accumulated income reserve.

(g) Capital recoupment reserves

These reserves represent the recoupment from revenue over an extended period of that proportion of the costs of properties purchased or receiving major improvements in past years which was financed from permanent endowment funds.

(h) Repairs and rebuilding reserves

These reserves represent amounts set aside to carry out future major repairs and rebuilding of charitable and investment properties. The policy for investment in these reserves is the purchasing of units in NAACIF on a quarterly basis.

(i) Value added tax

The Charity was registered for value added tax in July 2005 for the purpose of acquiring the investment property industrial unit in Totton. This is the only property that has been ‘opted to tax’. In these financial statements, where applicable, all other expenditure is shown inclusive of VAT.

(j) Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

(k) Allocation of overhead and support costs

Overhead and support costs relating to charitable activities have been apportioned at 70% and the costs of managing investments at 30%, based on staff time and salaries.

(l) Redundancy costs

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the Charity is demonstrably committed to terminate the employment of an employee or group of employees or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The Charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

The Charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans and mortgages which are subsequently measured at amortised cost using the effective interest method. The Charity also has listed investments which are financial assets measured at fair value.

(n) Key sources of judgement and estimation uncertainty

In the application of the Charity’s accounting policies, described in the accounting policies above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The Trustees consider that the following are key estimates:

(o) Exemption from preparing consolidated accounts

As permitted under Section 405 of the Companies Act, the charitable company has taken the exemption from the requirement to prepare consolidated financial statements as the exclusion of its subsidiaries, St John’s Community Housing Limited and St John’s Winchester Developments Ltd is not material for the purposes of giving a true and fair view.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2
3
4
5		 INCOME FROM CHARITABLE ACTIVITIES
Almshouse weekly maintenance charge
Care and care home fees
Grant Income
INVESTMENT INCOME
Investment property rental income
Common investment funds
Other income
=
INCOME FROM DONATIONS AND LEGACIES
Donations
Legacies
=
COST OF MANAGING INVESTMENTS
Professional fees
Property repairs and maintenance
Irrecoverable rent arrears
Support costs
=		 __ 2024
£’000
666
45
48
_

759
=====
==
2024
£’000
1,687
34
-
_

1,721
====
===
2024
£’000
13
2
_

15
====
==
2024
£’000
160
285
121
240
_

806
====
===		 2023
£’000
516
44
-
_
560
====
2023
£’000
1,586
35
5

1,626
====
2023
£’000
17
2
__
19
====
2023
£’000
103
430
34
186
_____
753
====
=
__
==
__
==
__
==
6 EXPENDITURE ON CHARITABLE ACTIVITIES
Staff and agency costs
Property and equipment costs
Direct costs
Support costs
Charitable property mortgage
=		 __ 2024
£’000
673
573
253
560
3
_

2,062
=====
===		 2023
£’000
541
428
209
437
3
_____
1,618
====
=

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7 SUPPORT AND GOVERNANCE COSTS

7 SUPPORT AND GOVERNANCE COSTS
8 Charitable
Investment
Activities
Management
£’000
£’000
Staff costs
393
168
Office equipment and IT
47
20
Legal fees
10
4
Strategic, PR and HR consultancy
50
21
Repairs and renewals
12
5
Sundries
28
12
Governance
20
10
__
__
___
560
240
=======
=======
==
Charitable
Investment
Activities
Management
£’000
£’000
Staff costs
305
130
Office equipment and IT
39
17
Legal fees
5
2
Strategic, PR and HR consultancy
15
7
Office repairs and utilities
11
4
Sundries
32
13
Governance
30
13
__
__
___
437
186
========
========
===
NET INCOME/EXPENDITURE
2024
The deficit is stated after charging-
£’000
Depreciation- tangible fixed assets
86
Auditor’s remuneration (including VAT)
-in their capacity as auditor
25		 2024
Total
£’000
561
67
14
71
17
40
30
_____
800
=====
2023
Total
£’000
435
56
7
22
15
45
43
_____
623
=====
2023
£’000
86
21
9 TANGIBLE FIXED ASSETS
Charitable
Equipment
Total
Property
£’000
£’000
£’000
Cost or valuation
At 1 April 2023
11,812
424
12,236
Additions
1,462
41
1,503
_
_
_
At 31 March 2024
13,274
465
13,739
=======
=======
=======
Depreciation
At 1 April 2023
967
355
1,322
Charge for the year
70
16
86
_
_
_
At 31 March 2024
1,037
371
1,408
=======
=======
=======
Net book value at 31 March 2024
12,237
94
12,331
=======
=======
=======
Net book value at 31 March 2023
10,845
69
10,914
=======
=======
=======

All charitable properties are freehold.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10 INVESTMENTS Investment Listed Cash or Total
properties investments Cash
Equivalents
£’000 £’000 £’000 £’000
At 1 April 2023 23,603 14,551 25 38,179
Additions - 116 - 116
Disposals - (1,301) - (1,301)
Change in market value 49 841 - 890
_ _ __ __
Valuation at 31 March 2024 23,652 14,207 25 37,884
======= ======= ======== =======
Investment Listed Cash or Total
properties investments Cash
Equivalents
£’000 £’000 £’000 £’000
At 1 April 2022 24,781 15,620 25 40,426
Additions - 116 - 116
Disposals (1,280) - (1,280)
Change in market value (1,178) 95 - (1,083)
_ _ __ ______
Valuation at 31 March 2023 23,603 14,551 25 38,179
======= ======= ======== ======

The investment properties form part of the permanent endowment of the Charity and generate the principal revenues with which to finance its charitable activities. The properties have been revalued by the Trustees as at 31 March 2024 after consultation with Carter Jonas.

Subsidiary undertakings

St John’s Winchester holds two dormant related companies: St John’s Community Housing Ltd (Company Number: 13473443) and St John’s Winchester Developments Ltd (Company Number: 02177107). These entities were established as part of the Charity's broader strategic initiatives, but they remain inactive at present, with no current operations. The registered office for both dormant companies is 32 St. Johns South, The Broadway, Winchester, United Kingdom, SO23 9LN.

At 31 March 2024, St John’s Winchester holds 100% of the voting rights and the power to appoint or remove a majority of the board of directors of St John’s Community Housing Limited and St John’s Winchester Developments Ltd hence this constitutes significant control under FRS102 and therefore considered a 100% subsidiary of the company. The aggregate amount of both St John’s Community Housing Limited and St John’s Winchester Developments Ltd capital and reserves as at 31 March 2024 was £nil.

11
12		 DEBTORS
Investment property rents
Other debtors and prepayments
___
==
CREDITORS: Amounts falling due within one year
Trade creditors
Other creditors
PAYE and other taxes
Accruals and deferred income
___
==		 2024
£’000
93
174
_____

267
=====
===
2024
£’000
287
61
57
407
_____

812
=====
===		 2023
£’000
251
455
_
706
====
2023
£’000
244
45
30
727
___
1,046
====

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12a Deferred income (included in note 12)


Balance as at 1 April
Amounts released to investment income
Amounts released to income from charitable activities
Amounts deferred in the year
-------
Balance as at 31 March
===		 2024
£’000

640

(287)
(353)

267

-------
--
267

=====
===		 2023
£’000
417
(305)
(112)
640
--------
640
====

13 CREDITORS: Amounts falling due after more than one year

The loan from The Housing Corporation is secured by charges on the Charity’s housing properties and is repayable in annual instalments with interest rates and final repayment date as follows: -

Housing Corporation -
Final repayment date 30.09.2044		 Interest
Rate
2024
£’000
10.250%
49

----------
--		 2023
£’000
50
--------

14 TRUSTEES’ REMUNERATION AND EXPENSES

The Trustees neither received nor waived any emoluments during the year (2023: Nil). Trustees were reimbursed expenses of £ Nil (2023: £Nil).

15 STAFF COSTS


The average number of employees (both full and part time)
employed by the Charity during the year was:
Charitable activities
Management and administration


Wages and salaries
Social Security costs
Pension costs
Redundancy payments
--
=		 2024

35
13
--------
--
48
=====
=
£’000

1,210
108
67
12
--------
--
1,397
=====
=		 2023
29
11
--------
40
=====
£’000
1,012
93
59
-
--------
1,164
=====

Redundancy payments of £12k were made in the year in relation to the closure of the HomeShare service and the restructure of the Hand-in-Hand service (2023: nil).

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

The number of employees whose emoluments as defined for
taxation purposes amounted to over £60,000 in the year was:
£60,000-£70,000
£70,000- £80,000
£80,000-£90,000

Pension contributions paid in respect of higher paid employees		 2024
1
0
1
£’000

11		 2023
0
1
0
£’000
6

The Key management personnel of the Charity comprise the trustees, the Chief Executive Officer, Director of Community Services, Finance Director, Facilities Manager, and Investment Property Manager. The total employee benefits (including employers’ national insurance) of the key management personnel of the Charity were £333,358 (short term benefits £310,422, long term benefits £22,936) (2023: £ 315,468 (short term £ 294,454 long term benefits £21,014)).

All pension costs are charged against unrestricted funds.

16 CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

Capital commitments for amounts contracted at the balance sheet date totalled £123k (2023: £253k).

17 TAXATION STATUS

St John’s Winchester is a registered Charity whose income is generally exempt from liability to corporation tax by virtue of its charitable objectives and activities. As explained in Note 1 (i), the Charity is unable to recover the majority of VAT charged on purchases of goods and service

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS 18. STATEMENT OF FUNDS
At 1 Income Expenditure Investment Transfers At 31
April March
2023 gains 2024
£’000 £’000 £’000 £’000 £’000 £’000
Unrestricted funds
Charitable property 10,845 - - - 1,392 12,237
reserve
Minibus replacement 31 - - - - 31
reserve
Major repairs and
rebuilding reserve-
Investment property 3,981 - - 257 (130) 4,108
Extraordinary repairs
reserve-
Charitable property 1,266 - - 78 (227) 1,117
Accumulated income 1,726 2,447 (2,813) 7 144 1,511
reserve
_ _____ _ _ _ _
17,849 2,447 (2,813) 342 1,179 19,004
====== ===== ======= ======= ====== =======
Restricted funds
Garden Project 5 - (5) - - -
Hand in Hand 2 - (2) - - -
Grants: Fabric of - 24 (24) - - -
Winchester
Grants: Dementia - 24 (24) - - -
Services
_ _____ _ _ _ _
Total restricted 7 48 (55) - - -
funds
====== ====== ======= ======= ====== =======
Endowment funds
Permanent 28,230 - - 435 - 28,665
endowment funds
Investment revaluation 283 - - - - 283
reserve
Capital recoupment 2,975 - - 113 (1,179) 1,909
reserves
_ _____ __ ___ __ _
Total endowment 31,488 - - 548 (1,179) 30,857
funds
====== ===== ======= ======== ======= =======
Total funds 49,344 2,495 (2,868) 890 - 49,861
======= ====== ========= ========== ========= =========

Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable activities.

Charitable property fund represents the net book value of charitable property held as fixed assets.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Designated funds comprise:

Restricted funds are funds which have been given for specific purposes and projects:

Garden- funds which are to be utilised in reforming the ‘Southside Gardens’ Hand in Hand- funds which are to be utilised on the provision of the ‘Hand in Hand’ service Donations Defibrillator- funds received to purchase and install defibrillators on St John’s sites Grants- Fabric of Winchester and Dementia Services projects

Endowment Fund represents those assets which must be held permanently by the Charity, principally investment properties. Income arising on the endowment fund can be used in accordance with the objectives of the Charity and is included as unrestricted income. Any gains or losses arising on the investments form part of the fund.

19. FINANCIAL INSTRUMENTS

Investments measured at fair value 2024
£’000
14,207		 2023
£’000
14,551

20. RELATED PARTY TRANSACTIONS

The Charity has a working relationship with Winchester City Council (“WCC”) and the Council has the right to nominate 2 of our trustees (see the Trustees’ Annual Report). During the year there was 1 trustee nominated by the Council, Kelsie Learney.

During the year £51k (2023: £60k) of payments were made to WCC for the payment of general rates and levies. All of these conducted on an arm’s length basis based upon standard charges levied by way of a set calculation by WCC.

Details of compensation payable to key management is disclosed in note 15.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

21. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Notes
Income and endowments from:
Donations/legacies
4
Income from charitable
activities - housing and care
provision
Contributions from
charges due
2
Investments
3
Other income
Profit on disposal of
fixed assets
Total income and
endowments
Expenditure
Expenditure on raising funds
Cost of managing
investments
5
Expenditure on charitable
activities
Housing and care
provision
6
Other costs
Loss on disposal of fixed assets
Total expenditure
Net expenditure
before
gains/(losses) on
investments
8
Net unrealised gains/(losses)
on investments
Net realised gains/ (losses) on
investments
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Funds brought
forward at 01 April
18
Transfers
18
Net movement in funds
Funds carried
forward
at 31 March
18		 Unrestricted
funds
2023
£’000
13
560
1,626
72
2,271
753
1,618
-
2,371
(100)

78
-
(22)
(22)
16,868
1,003
(22)
17,849		 Restricted
funds
2023
£’000
6
-
-
-
6
-
-
-
-
6
-
6
6
5
(4)
6
7		 Endowment
funds
2023
£’000
-
-
-
-
-
-
-
-
-
-
(1,161)
-
(1,161)
(1,161)
33,648
(999)
(1,161)
31,488		 Total
Funds
2023
£’000
19
560
1,626
72
2,277
753
1,618
-
2,371
(94)
(1,083)
-
(1,177)
(1,177)
50,521
-
(1,177)
49,344		 Total
Funds
2022
£’000
6
910
1,527
190		 Total
Funds
2022
£’000
6
910
1,527
190
2,633
683
2,513
48
3,244
(611)
(2,027)
1,553
(1,085)
(1,085)
51,606
-
(1,085)
50,521